STEEP funds available to eligible South Troy residents

TROY -- The city is accepting applications for the South Troy Exterior Enhancement Program, which provides grant funding to assist residents in making repairs and improvements to their home.

The city Department of Housing and Community Development, in partnership with the state Affordable Housing Corporation will distribute $500,000 in funding to eligible South Troy residents seeking to complete work on their homes. Eligible exterior home improvement projects include: window replacement, roof replacement, exterior paint, porch or step improvements, exterior structural repairs, or façade improvements.

"STEEP eases the financial burden on homeowners who have projects and repairs that might otherwise be too costly to complete," said Mayor Lou Rosamilia. "I encourage residents in South Troy to take advantage of STEEP, and submit their applications to this valuable community grant program."

The corporation will cover up to 60 percent of the cost of improvements for homeowners at or below 112 percent of the federal HUD low-income limit, up to $3,000. Homeowners will be required to match 40 percent of the project costs unless they are at or below 80 percent of the low-income limit. In those cases, homeowners may be eligible to receive grant funds up to 100 percent of costs, not to exceed $5,000.

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In addition to being income-eligible, certain requirements must be met in order for a project to be considered. Some of these requirements include:

Property must be a one, two, or three-family home located within the South Troy area.

The homeowner will be required to maintain his/her principal residence for a period of two years; if not, funds will be recaptured by the city.

Applicants are required to contact the City's Department of Housing & Community Development for program information prior to the application process. The Department may be contacted by phone at (518) 279-7149, fax (518) 268-1690, or by mail to 1776 Sixth Ave., Troy 12180.